Forex Daily Forecast, Analysis and Prediction

For the fourth day in a row, the USD/JPY currency pair is exposed to profit-taking operations, but has not yet escaped from its ascending channel.

The return from the American holiday contributed to the movement and activity of the markets.

The NZD/USD continues to trade within its lower price range, but has seen quick-moving values with choppy results and strong reversals.

The USD/BRL provided a reminder yesterday why it is one of the more challenging Forex pairs to speculate on as it violently moved higher.

The USD/ZAR continues to produce abrupt short-term volatility within a rather tight range which may prove opportunistic for experienced traders.

ETH/USD created a short-term high early this morning as it traded above the 2400.00 level for a moment, advancing past value attained on the 4th of July.

The euro initially rallied during the trading session on Tuesday but then turned around to show signs of weakness again.

The British pound rallied a bit during the trading session on Tuesday but gave back the gains midday to turn around and start falling again.

The Bitcoin market rallied during the trading session on Tuesday only to give back quite a bit of the gains and form a shooting star.

The S&P 500 recovered quite nicely later in the trading session on Tuesday after it wiped out the gains from Friday.

The NASDAQ 100 initially fell during the trading session on Tuesday but found enough support underneath to turn around and rally yet again.

Price action looks messy and hard to predict.

The Australian dollar initially shot higher during the trading session on Tuesday, pole vaulting above the 200-day EMA after the RBA decisions are now accepted.

The US dollar rallied significantly during the trading session on Tuesday, using the 50-day EMA as a major support level.

The West Texas Intermediate Crude Oil market initially rallied on news that the OPEC+ members could not come to some type of an agreement to extend production.